Whether you are looking for your first house, an investment property or a new home to suit your growing family, it can be challenging navigating buying a property on your own.
Buyer's agents can have a significant impact on the success of your purchase. A good buyer's agent will work with you, from helping you scour the market for your dream home or investment, to negotiating the offer and liaising with the seller
and their agent.
You only need to look at the growing popularity of buyer's agents in Sydney and Melbourne, and indeed, in other parts of the world like the USA, to recognise that these services give buyers and investors an edge when searching for property.
How buyer's agents differ to sales agents
As the name would suggest, buyer's agents are a licenced real estate agent or registered sale representative who acts on behalf of the buyer. They can help you locate your ideal property and negotiate the lowest price with the best terms and conditions
the seller will accept. They do all the groundwork and necessary research for you, so you're 100 per cent informed when making a decision.
On the other hand, the seller's real estate agent ultimately works for their client - who is the seller. Their goal is to sell property at the highest price in the shortest timeframe, negotiating contract conditions which benefit the seller.
They must be fair to the buyer, but their ultimate duty is to their client.
Comparatively, buyer's agents are not tied to any listings, their focus is on the buyer's interests, and they can review all properties available on the market, pointing out their strengths and weaknesses.
What are the benefits of a buyer's agent?
A buyer's agent will fairly assess the property's worth and recommend the appropriate price you should offer and the conditions you should attach to the contract to buy the property. Having a buyer's agent on your side helps keep you
objective and prevents you from overpaying for a property or making mistakes that many buyers make.
Through extensive research, networking and experience, a buyer's agent can save you money, time and effort. They know the real estate market inside out and understand how different properties can best meet a buyer's strategy. They also have
good industry connections and will often be alerted to suitable properties before they hit the market - which is particularly helpful in a fast-selling market.
If you're thinking about buying or investing in property, I highly recommend hiring a REIWA buyer's agent to ensure you find the best property for your budget and situation.
More information
To find out more about buyer's agents, read about 'A day in the life of a REIWA buyer's agent'.
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